Author Topic: Mega Millions.... (Read 11406 times)

Mick33 · « **on:** March 25, 2011, 06:37:12 AM »

Is at a jackpot of $312,000,000.00. Would you take the cash option of $198,000,000.00 or go for the 26 year payout of a steady $12,000,000.00? That's a tough call! The temptation to blow huge portions if you took the one time payout would be pretty tough to resist, but the security of knowing that you will be netting almost $8mm a year for the next 26 years is pretty satisfying! This is obviously for the Getbiggers who do not already net $8mm per year.

polychronopolous · « **Reply #1 on:** March 25, 2011, 06:39:07 AM »

Yeah because receiving 198 million dollars would not provide enough financial "security"

CalvinH · « **Reply #2 on:** March 25, 2011, 06:41:47 AM »

One shot payout.
.....gonna make serious intrest on that much money in the bank anyway.

Mick33 · « **Reply #3 on:** March 25, 2011, 06:43:22 AM »

Of course it would, but then sitting there everyday thinking, "Well if I invest $40mm and make 10%....", before long one/I might have blown $198mm! I would go with the cool $12mm every year.

CalvinH · « **Reply #4 on:** March 25, 2011, 06:45:05 AM »

Quote from: Mick33 on March 25, 2011, 06:43:22 AM

Of course it would, but then sitting there everyday thinking, "Well if I invest $40mm and make 10%....", before long one/I might have blown $198mm! I would go with the cool $12mm every year.

I'd be dead by the time I blew all that cash.

.....would of had a great time along the way

w8m8 · « **Reply #5 on:** March 25, 2011, 06:45:53 AM »

I'd take the 26 yr pay out .. easy peasy choice for me to make ... no need IMO to get a huge lump sum .. $1 M a year is a lot of money so more than that is sounding great to me

Mick33 · « **Reply #6 on:** March 25, 2011, 06:47:16 AM »

Quote from: w8m8 on March 25, 2011, 06:45:53 AM

I'd take the 26 yr pay out .. easy peasy choice for me to make ... no need IMO to get a huge lump sum .. $1 M a year is a lot of money so more than that is sounding great to me

I agree, I would go hog wild buying cheap real estate, and then when I sobered up, I would be broke with a bunch of real estate I cannot sell for the next 5-10 years.

CalvinH · « **Reply #7 on:** March 25, 2011, 06:54:29 AM »

I'd take it all up front.this way when I die I can leave whats leftover to family and friends.

....the payments stop coming when you die.

Natural Man · « **Reply #8 on:** March 25, 2011, 06:57:00 AM »

i wouldnt know what to do with so much money lol.

Mick33 · « **Reply #9 on:** March 25, 2011, 06:58:28 AM »

Quote from: CalvinH on March 25, 2011, 06:54:29 AM

I'd take it all up front.this way when I die I can leave whats leftover to family and friends.

....the payments stop coming when you die.

That is shitty, I did not know that. Well then up front for me then.

Tito24 · « **Reply #10 on:** March 25, 2011, 07:00:24 AM »

getting that much money is no guarantee for happyness either

225for70 · « **Reply #11 on:** March 25, 2011, 07:01:37 AM »

I'd take the lump sum payout....

However, i don't have any chance to win the lotto...I never play....

Grape Ape · « **Reply #12 on:** March 25, 2011, 07:02:41 AM »

Why let them earn interest on your money?

You take the payout, without question. Even if you averaged only a 2% gain each year, you make more than the payout.

Marty Champions · « **Reply #13 on:** March 25, 2011, 07:09:47 AM »

Quote from: Mick33 on March 25, 2011, 06:47:16 AM

I agree, I would go hog wild buying cheap real estate, and then when I sobered up, I would be broke with a bunch of real estate I cannot sell for the next 5-10 years.

same here, id by realestate and have hookers help me paint and video tape it all

Marty Champions · « **Reply #14 on:** March 25, 2011, 07:10:47 AM »

id also pay some people in the know to attain the knowledge of the mysteries of the sphinx and be shown the master texts

bigkid · « **Reply #15 on:** March 25, 2011, 07:13:57 AM »

I'd take the one time payout. Most of these morons can't handle it bc they don't come from money.

dr.chimps · « **Reply #16 on:** March 25, 2011, 07:14:40 AM »

Lump sum. No brainer. That's a lot of FuckU money.

Tito24 · « **Reply #17 on:** March 25, 2011, 07:17:19 AM »

some very rich people manage to end up broke its unbelievable what kind of morons this world inhibits.

El Diablo Blanco · « **Reply #18 on:** March 25, 2011, 07:17:49 AM »

Quote from: CalvinH on March 25, 2011, 06:54:29 AM

I'd take it all up front.this way when I die I can leave whats leftover to family and friends.

....the payments stop coming when you die.

This is completely incorrect. The payments are guaranteed and you can have them continue paying to a trust or someone can inherit the payments. You can transfer the payments to anyone at anytime.

There are companies out there that will buy people out of their payments. Say you have 10 years and $1 mill per year still coming, they'll offer you $3 million up front to take over the payments.

1.Mega Million lottery and most others can be inherited in annuity payout form. So for estate tax purposes, it is really important whose name is on the ticket when you claim the prize. If you do it right, you can set up a trust before you claim the prize, making the trust as the owner, and work toward getting the money out of your estate.

Doug_Steele · « **Reply #19 on:** March 25, 2011, 07:18:29 AM »

Quote from: dr.chimps on March 25, 2011, 07:14:40 AM

Lump sum. No brainer. That's a lot of FuckU money.

How much is Canada worth?? About 10 Million.

Meso_z · « **Reply #20 on:** March 25, 2011, 07:19:30 AM »

Quote from: Tito24 on March 25, 2011, 07:00:24 AM

getting that much money is no guarantee for happyness either

I wouldnt mind having $312,000,000.00 in the bank big guy.

w8m8 · « **Reply #21 on:** March 25, 2011, 07:21:04 AM »

Quote from: CalvinH on March 25, 2011, 06:54:29 AM

I'd take it all up front.this way when I die I can leave whats leftover to family and friends.

....the payments stop coming when you die.

Don't you think you'll be giving a lot to your family and friends before you die ? Anytime I've read about lottery winners they always say people line up with their hands out wanting some "help" ... I'm not keen on putting a huge sum of money into a bank that will make profit .. sure the interest would be an advantage .. but the banks don't just babysit your money for free .. I'd much rather choose who and what I spend my money on and not just allow someone else to gain from it

http://www.flixya.com/blog/278620/How-Banks-Use-Your-Money-To-Make-New-Money

CalvinH · « **Reply #22 on:** March 25, 2011, 07:22:03 AM »

Quote from: mon_of_steele on March 25, 2011, 07:17:49 AM

This is completely incorrect. The payments are guaranteed and you can have them continue paying to a trust or someone can inherit the payments. You can transfer the payments to anyone at anytime.

There are companies out there that will buy people out of their payments. Say you have 10 years and $1 mill per year still coming, they'll offer you $3 million up front to take over the payments.

1.Mega Million lottery and most others can be inherited in annuity payout form. So for estate tax purposes, it is really important whose name is on the ticket when you claim the prize. If you do it right, you can set up a trust before you claim the prize, making the trust as the owner, and work toward getting the money out of your estate.

Did not know.but why go through all that hassle.just take the money and make a will...done!

....and I thought you quit GB anyway

Tito24 · « **Reply #23 on:** March 25, 2011, 07:22:34 AM »

Quote from: Meso_z on March 25, 2011, 07:19:30 AM

I wouldnt mind having $312,000,000.00 in the bank big guy.

i would pay you a surprise visit then.

DroppingPlates · « **Reply #24 on:** March 25, 2011, 07:25:47 AM »

Quote from: Tito24 on March 25, 2011, 07:17:19 AM

some very rich people manage to end up broke its unbelievable what kind of morons this world inhibits.

Esp poor people with a low IQ who became rich quickly, like lotto winners, drug dealers and rappers. If you can't deal with wealth, you don't deserve it.